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The real estate development offers investors luxury homes in the heart of the city
August 14, 2024 | Staff Reporter | UAE | Developers
A phase of development is attracting investors with a AED7 billion ($1.9 billion) collection of ultra-luxury villas and mansions, said property experts. Gaining recognition as the ‘Downtown Villas of Dubai’, this new community taking shape in the Al Wasl District offers both investors and end-users the rare commodity of luxurious freehold homes in the heart of the city.
Its focal point is the AED1 billion Nordic by fäm development, an assortment of 17 villas and mansions within touching distance of Dubai’s Central Business District, and prime lifestyle landmarks. “The supply of freehold villas with immediate proximity to downtown, the CBD and Jumeirah Beach is essentially exclusive to the Al Wasl district,” said Firas Al Msaddi, CEO of fäm Properties.
“While Dubai boasts over 10,000 waterfront luxury villas, there are only 140 new luxury villas available in Al Wasl, offering unmatched accessibility to the heart of the city within minutes. The new phase of development has already attracted significant investment interest, particularly from wealthy Dubai expatriates who know the value of owning land, or a standalone villa, in one of the city’s prime locations,” he added.
The new Wasl District properties feature modern luxury villas and mansions, highlighting designs that emphasize elegance and simplicity. Prices range from AED40 million to AED150 million, depending on plot size, built-up area, design, and finishes.
Minimalist Design
Nordic by fäm exemplifies minimalist design with fully furnished villas and mansions embodying a Scandinavian spirit, with prices averaging AED76 million. The most recent villa was sold for AED61.5 million.
Villas averaging AED75 million provide exceptional value, offering a spacious 20,000 sq ft of built-up area - double the space of the latest 8,000 sq ft penthouses in City Walk, which got sold for AED35 million.
While Dubai boasts over 10,000 waterfront luxury villas, there are only 140 new luxury villas available in Al Wasl, offering unmatched accessibility to the heart of the city within minutes.
Firas Al Msaddi, CEO of fäm Properties
The fact that villa owners also gain ownership of the land, unlike penthouse buyers, makes these villas an even more attractive investment. "Villas boast private cinemas, spas, gym, indoor and outdoor gardens for optimal entertainment and relaxation. High-end finishes include frameless motorized sliding doors, expansive glass panels, and soaring ceilings," said Al Msaddi.
Bespoke design options by Nordic by fam are available for each villa or mansion, with choices for move-in ready, fully furnished homes or under-construction villas, with flexible payment plans, he added.
